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Demand Based Pricing: Described methods belong to the category of demand / market based pricing:-
1. What the Traffic can Bear' Pricing
2. Skimming Pricing
3. Penetration Pricing
The price elasticity of demand is taken into account in all of the demand based pricing methods, indirectly or directly. Price elasticity of demand refers to the relative sensitivity of demand for a product to changes in its value in other words how significantly the sales of the product are affected when price is changed. If decrease or increase in the price of the product results in significant increase or decrease the product is said to be price elastic conversely, if price change does not considerably affect the sales volume, a product is called to be price inelastic.
Need\Importance of a Marketing Information System: The need for marketing information can be understood by the following points: 1. Marketing activity is becoming more compl
Understanding other cultures is vital to success in the global marketplace. Refer to Table 21-3 which lists some blunders in International Marketing. One of my favorite blunders ha
INTRODUCTION ? CUSTOMER NEED & SATISFACTION LEVEL?
Explain about piecemeal modernization in the line modernization. Piecemeal modernization is less of a drain upon the company’s cash flow. A main disadvantage of Piecemeal Moder
Problem 1 (a) The development of inter-organizational relationships is best known through personal selling rather than through exhibitions and trade shows. Explain. Proble
what is market offers
XYZ Limited, finalist for the European Quality Award (EQA), has doubled its share of the quality carpet sector in recent years and now holds over 10 per cent of the world market fo
Question 1: Mauritius has planned to double its number of international tourists within the next 10 years. Discuss the challenges faced by destination marketers in the devel
(a) Explain with example the concept of anatomy of a product. (b) Differentiate between a brand mark and a brand name. (c) Draw an appropriate diagram to illustrate the impor
Advantages of packaging: advantages of the packaging may be divided into three parts: Advantage to manufactures: advantages of the packaging available to manufactures are as
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